To help your business survive and thrive during these uncertain times, you need a solid framework for making and implementing business decisions.

And in terms of making these decisions, here are some simple rules to follow:

1. Focus on making your cash last as long as possible, because right now no one can predict how long and how deep this uncertainty will run. This may mean the focus is on profitability not growth.  But don’t downsize yourself out of existence.
2. Challenge all business assumptions and ask if the business can be done another way.
3. Be transparent and include your staff in the decision making process. They may be in a better position to advise on the best course of action as they are the ones dealing with things day to day.  The phrase “matching decisions with expertise” comes to mind here.
4. If you need to cut, cut once, do it deep and sooner rather than later as lots of small cuts impact staff morale and culture badly.
5. Make sure everyone is on the same page, properly aligned with a common purpose.
6. Reach out to some old timers in the industry and see what you can learn from their experience in previous downturns

Whilst all the rules are important, you can get rules 1 to 4 right and if you stuff up rule 5 and don’t communicate properly, the whole business can unravel.  It is not good if everyone is pulling in different directions.

You will need to communicate your updated business strategy to everyone so they understand exactly where they fit into this and what is expected of them.  My favourite tool for this is a concise one page strategic plan that everyone can look at.

Look out for more strategies from my Business Survival Guide to ensure your business can survive and thrive during these uncertain times.

Need an independent sounding board to help you make and implement these decisions?  Need help to produce your concise one page strategic plan?  Use the below form to contact me or call me on 0412 227 052.

Contact Wayne Wanders for your FREE Business Survival Session

To ensure I help your business specifically, the best approach I have found is to have an obligation free session with you.  In this session we will review your current business in a factual and objective manner, to better understand the challenges that you face.  And this session does not need to be face to face.

At the end of this session, you will have multiple ideas on how your business can survive and thrive in these uncertain times.

Simply fill in the contact form below or email me at wayne@aRealCFO.com.au or call me on 0412 227 052 to organise one of these obligation free sessions.

To get help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times, simply use the contact form on the left to email Wayne or call him on 0412 227 052.

Let Wayne Wanders, a fully qualified and experienced CFO, help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times.

Wayne Wanders, A Real CFO

wayne@aRealCFO.com.au